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Research Paper on Accounting - Case Study Example

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British Petroleum (BP) was established in the year 1909 by William Knox D'Arcy. The organisation has its operations in 100 countries around the world. BP has a production of 3.9 million barrels of oil equivalent per day. The company is into oil exploration, refining and finally producing various petroleum variants according to the requirements of the consumers…
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Research Paper on Accounting

Download file to see previous pages... Presently, the company is contributing $20 million of energy to US department (Solar Technology, n.d.). BP is also focussing on the wind energy sector since the launch of Alternative Energy business in 2005. The company is estimating a production of around 1000 MW (Wind Technology, n.d.). BP has also taken initiatives to control the global warming problem. The company has already deployed CCS technologies in many of its plants. In CCS technology, CO2 is stored underground, instead of blowing into the atmosphere. BP is planning to store 17 million tonnes of CO2 under CCS (Carbon Capture and Storage Technology, n.d.). BP sells its products under six different brands. The major brand is known as BP itself. It is into oil exploration, refining, solar projects, wind projects and shipping various products of the company overseas. Aral is another brand of BP, which is a famous brand in Germany and provides quality automotive fuels. The other brands under BP are Arco, Castrol, Ampm and Wild Bean Cafe. While, Arco is the provider of clean and low cost fuels in US, Castrol is the worldwide leading engine oil. Ampm is the convenience shop brand in Western USA and Wild Bean Cafe provides world class coffee and affordable food.
BP's main objective is to produce affordable, safe and secure energy and the creation of shareholders value. Creating a highly diverse energy portfolio with utmost efficiency is the ultimate goal of the company. Along with this, BP also intends to produce sufficient fossil fuel resources. BP wants to be a major contributor to the process of pollution control for a low-carbon future. Efficient manufacturing, processing and delivering of better products are other major objectives of British Petroleum (Our Strategy, n.d.).
Layout (structure)
The organisation structure of British Petroleum consists of-
The Board
Executive directors
Non-Executive directors
Board Committees
Chairman's Committee
Nomination Committee
Audit Committee
Ethics & Environment Assurance Committee
Remuneration Committee

Methodology (methods used)
Ratio analysis has been used to comment on the financial condition of BP.
Ratio Analysis
Net Profit Margin = Net Income/Revenue
Return on Capital Employed =
Gross Profit Margin =
Current Ratio = Current asset/ current liability
Acid Test Ratio =
Stock Turnover Period = Cost of goods sold / average stock
Debtors Collection Period = (average debtor / credit sales) 365
Note: Since credit sales are not mentioned, the net sales of the company has been considered as credit sales.
Creditors Collection Period = (credit purchase/ average creditor) 365
Note: Since credit purchase is not mentioned, so the entire purchase (Annual Report 2008, pg 141) is considered to be the credit purchase.
Gearing Ratio
Debt-Equity ratio = Total Debt / Total equity
Times interest earned = EBIT/ Total Interest
Equity ratio = Tot ...Download file to see next pagesRead More
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